SQM Announces Lower Third-Quarter Lithium Production; We Maintain Our $65 FVE With Outlook Intact
On Oct. 19, SQM announced a five week delay in the ramp up of its new battery-quality lithium carbonate plant. Due to the delay, SQM now forecasts that third-quarter lithium production will be 15% lower than the 11.1 thousand metric tons produced during the second quarter. In response, we've reduced our 2018 lithium production forecast to 47,000 metric tons, down from 51,000. SQM noted that the delay should not affect fourth-quarter production and management expects the new plant to be running a...
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